GV Gold approves new dividend policy to keep dividends high - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

GV Gold approves new dividend policy to keep dividends high

MOSCOW, Apr 28 (PRIME) -- Russian gold producer GV Gold has approved a new dividend policy to keep the high payouts and will calculate dividends on the basis of earnings before interest, taxes, depreciation, and amortization (EBITDA) starting from the dividends for 2017, the company said in a statement on Saturday.

GV Gold set the target level of dividends at 30% of EBITDA if the net debt to EBITDA ratio is below 2.5. But if the ratio stands at between 2.5 and 4.0 over the past 12 months, the board of directors will be allowed to approve dividends of up to 20% of EBITDA taking into account other financial factors. If the ratio stays above 4.0, the company would pay no dividends.

The board may also consider payment of special dividends taking into account the companyТs liquidity, capital expenditures, and the share of own and borrowed money. All dividends will be calculated on financial reports under International Financial Reporting Standards (IFRS).

Before 2018, the company paid dividends of no less than 25% of the net profit calculated under Russian Accounting Standards. It paid 2.179 billion rubles in dividends for 2016.

Board members Sergei Dokuchayev, Valerian Tikhonov, and Natalya Opaleva each hold 20.36% in the company. BlackRock investment fund owns 17.99%, Brishurt Ltd has 6.37%, the companyТs subsidiary SAKHA Gold Mining has 5.26%, and minorities of 6.35%.

(62.7260 rubles Ц U.S. $1)

End

28.04.2018 12:41
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 77.3832 -0.3012 26 sep
USD 65.8244 -0.3350 26 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1169.04 +0.52 18:50 25 sep
micex 2444.22 +0.58 18:50 25 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 160.65 +1.04 18:32 25 sep
lkoh 4886.50 +2.23 18:32 25 sep
rosn 458.85 +2.64 18:32 25 sep
sber 195.95 -1.41 18:32 25 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 77.5600 -0.8850 14:59 25 sep
USDTD 65.7650 -0.7025 17:44 25 sep